The Life Insurance Policies on Dr. Sievers

[creepingskills]

Some school loans can go after the deceased persons estate. The school loans may have a lien or hold filed to get payment eventually. We may never know.

I think federal student loans are forgiven, but private student loans may have different terms?

 

[Dmacky]

I think federal student loans are forgiven, but private student loans may have different terms?

This is true. Most private loans are inherited by the spouse. It really depends on how they took out the loan. Most married couples loans are signed by both. They may have even taken out a 2nd mortgage for the money owed for the loan. I doubt since they were married and she went back to school to get additional degree's in 2006? (or 2008) and again 2012 they would ever qualify for student loans.
All her previous loans when she was younger and not married I'm pretty sure will be forgiven.
Just my own opinions or thoughts. I could be wrong, it wouldn't be the first time :wink:

 

[No it's not]

I think federal student loans are forgiven, but private student loans may have different terms?

Most private student loans require a co-signer, as far as I know.

-Nin

 

[human]

Federal loans are for those of lower income. Are there special loans for those who wish to become a doctor?

 

[AZlawyer]

Federal loans are for those of lower income. Are there special loans for those who wish to become a doctor?

The feds will give you a student loan even if you have some money. They just won't defer interest or give you a low rate.

 

[Legally Bland]

This seems a bit odd to me, but that could be because I'm not from the US:

[Dump 1 #3085]

I could understand using a lawyer dealing with the estate to claim on life insurance, but a Wealth Management company? Is that normal in the US?

 

[Eileen730]

This seems a bit odd to me, but that could be because I'm not from the US:

[Dump 1 #3085]


I could understand using a lawyer dealing with the estate to claim on life insurance, but a Wealth Management company? Is that normal in the US?

Isnt this the name of the co. she was in a partnership with?

 

[Legally Bland]

Isnt this the name of the co. she was in a partnership with?

You're right that there's a listing for them on the resource page of TS's website.

http://www.drteresasievers.com/resources.php#.VshdlX2LS1s

Does this make it normal?

An insurance claim is something I'd expect to do myself, or use a solicitor if necessary.

 

[Eileen730]

You're right that there's a listing for them on the resource page of TS's website.

http://www.drteresasievers.com/resources.php#.VshdlX2LS1s

Does this make it normal?

An insurance claim is something I'd expect to do myself, or use a solicitor if necessary.

Id let the financial advisors do it I'm pretty sure they they know all about these policies and did it for free.

 

[atthelake]

:moo: In the US, there is quite a drive to be a financial planner that has wealthy clients that invest through them, many times taking a % of their holdings as their fee. (Easier to handle one customer worth $500k than 50 folks with 10K iykwim) These folks have certain qualifications and tests that they have passed, and for some of their clients, they hold a financial power of attorney in that they can make decisions on investments, take action on their own as to financial intruments/investments (buying and selling). As an insurance policy is a financial investment that many folks have, it doesn't send up any red flags to me this is being settled through their financial person. I've seen this same situation in the last two elderly folks that passed.

As to your question of the words "wealth management", it is more of a marketing tool.... to let their customers know they are special .. as often times, these companies won't take on folks unless they have a minimum amount of holdings to invest for them. (Sometimes they invest without customer input, sometimes the customer must give approval for purchases of stocks/bonds/etc.. just depends on the agreement between the adviser and the customer.)

So, :moo: it's not uncommon, especially for folks with larger financial holdings at all that do have a financial planner. There are small players that put "wealth management" in their name, and larger corporations that have many brokers supporting their wealth management group. Fidelity has a wealth management group for folks if you are familiar with that large investment group. I would guess that Charles Schawb etc has such also.

In addition, Doctors and lawyers are TARGETED by these folks before they are wealthy, knowing if they get them young, they will eventually have larger holdings. The larger the holdings, the lower percentage take they get as their fee every year. It can range from 1.5% downward, and sometimes they just do a flat fee.

HTH

ETA: Oh, and they buy mailing lists that list income and/or holdings.... and they send out free flyers for free fancy meals at a local restaurant to often solicit clients. They sometimes have groups of about 20-30 in a private room and give a seminar before you eat.

ETA #2: Agree with Eileen, I would let my financial person work with the insurance company, as she states, that is what they are paid to do. It could be that the financial person was thinking ... "wow, I'm about to get more business with this new money from Mark!" :thinking: We haven't seen these folks interviewed yet by LE

 

[Legally Bland]

OK, thanks for the responses.

It just seemed strange to me, personally.

 

[redfish]

MAYBE, he was thinking if the insurance was working through a third party it would escape notice of LE?

 

[dmac55]

MAYBE, he was thinking if the insurance was working through a third party it would escape notice of LE?

yes
that it would look more "official", and not like he (MS) himself was making the requests or in any
way anxious to get the insurance money
jmo

 

[dmac55]

OK, thanks for the responses.

It just seemed strange to me, personally.

me too for these reasons:
MS told the detectives he didn't know how much life insurance Teresa had, and would have to check with his financial advisor
MS designated Pelican Wealth to make the requests for payment from life insurance policy(s) on Teresa Sievers
MS never got back to the detectives or designated Pelican Wealth to contact them regarding the policies or their amounts
jmo

Investigative report: Teresa Sievers case
https://www.documentcloud.org/documents/2630726-investigative-report-teresa-sievers-case.html

Statement #2 of Mark Sievers:
July1, 2015
page#5

When asked about life insurance policies, M. Sievers stated he has a 2.5 million dollar policy on himself and another on the decedent. When asked to elaborate on amounts, M. Sievers could not recall stating he did not know and would have to check with his financial advisor.


Investigative report: Teresa Sievers case
https://www.documentcloud.org/documents/2630726-investigative-report-teresa-sievers-case.html

Discovery of Life Insurance Polices:
July7,2015
page#9

Due to M. Sievers refusal to aid investigators any furthur, subpoenas were sent to the policy holders regarding the insurance policies for Teresa Sievers. In obtaining said information, it was discovered there were five policies varying in different amounts and totaling $4,433,342.80.

 

[Frigga]

me too for these reasons:
MS told the detectives he didn't know how much life insurance Teresa had, and would have to check with his financial advisor
MS designated Pelican Wealth to make the requests for payment from life insurance policy(s) on Teresa Sievers
MS never got back to the detectives or designated Pelican Wealth to contact them regarding the policies or their amounts
jmo

Investigative report: Teresa Sievers case
https://www.documentcloud.org/documents/2630726-investigative-report-teresa-sievers-case.html

Statement #2 of Mark Sievers:
July1, 2015
page#5

When asked about life insurance policies, M. Sievers stated he has a 2.5 million dollar policy on himself and another on the decedent. When asked to elaborate on amounts, M. Sievers could not recall stating he did not know and would have to check with his financial advisor.


Investigative report: Teresa Sievers case
https://www.documentcloud.org/documents/2630726-investigative-report-teresa-sievers-case.html

Discovery of Life Insurance Polices:
July7,2015
page#9

Due to M. Sievers refusal to aid investigators any furthur, subpoenas were sent to the policy holders regarding the insurance policies for Teresa Sievers. In obtaining said information, it was discovered there were five policies varying in different amounts and totaling $4,433,342.80.

Is there any other red flag lie this big in the case? Mark Sievers 'numbers man extraordinaire' who knew the sum total of the cash that was in 6 or 7 different safes- off the top of his head- but didn't know the total amounts of the insurance policies he applied for, helped apply for or at least paid for?

Yeah right- Mark... who was in charge of the home and business finances did not know how many policies HE was making monthly payments on?

If there were no other motives in this case this would be enough.

He's a lying liar who lies.

I hope that the most important interviews are in this next document dump. I think some of the corners and edges to this puzzle are in those interviews- the framework, if you will.